DislikedHey,
Please do not hesitate to offer advise on my thinking process....My main purpose for posting is so that you and other more experienced trader can help me become a better trader.
Ignored
I am very happy with your progress
Peace
We all need pivots to win..yes or not? 13 replies
The System (Irony included) 1,175 replies
DislikedHey,
Please do not hesitate to offer advise on my thinking process....My main purpose for posting is so that you and other more experienced trader can help me become a better trader.
Ignored
Dislikedis it wise to trade with a take profit of 10 pips while the stop is 3xtake profit?
i mean i have 4 good trades for today but only with t/p = 10 pips.
any ideas?Ignored
Dislikedwell. it all depends on how aggressive you move your stop-loss. This is when trading becomes an art. Might want to look on momentum for that
I tend to go no higher than 2:1 but it all dependsIgnored
Dislikedyeah you´re right. i find it sometimes very difficult to go with the MM formula 2:1.
another thing is if you trail your stop pip by pip the chances are much higher that you get stopped out to early i think.
not easy.Ignored
DislikedFeb, my friend, I lose your track for a couple of months just to find
myself reading through 470 juicy odd posts!
You've done it again, awesome thread and awesome teachings.
Thanks a lot for sharing (once more) your knowledge, really appreciated,
HenryIgnored
DislikedHello Trader,
I PMed Feb for the need to have a tradingroom so that traders can exchange ideas evolving from a live chart and possible increase possible number of trading and chances of winning.
All trades taken will be posted on the thread to keep it alive.
The name of the tradingroom is 'THE SYSTEM II'
you will find it under community trading at tradingrooms
Hope to catch you there.
NaijafxIgnored
DislikedJust a few thoughts to share with the crew;
Since trying out your style of trading I have had a change in attitude as follows;
I would try and have winners all the time, this is impossible, and invariably hold onto wrong trades too long. Now, I expect losses but the big difference is that I'm prepared for it!! I minimise my loss to no more than 10 - 15 pips depending on my feel for the market. I know that I can always get back into a better trade later.
I now look at the flow or the wave forms of the market( higher highs, higher lows an lower highs and lower lows) This gives me the direction
I am looking at pairs that move well and have a good average daily range so the momentum is there to brake previous highs and lows. Trade 2:00am est to 5:00am est.
I have posted an interesting article which fits with Feb's style, enjoy
Thanks Feb...
AlexIgnored
Dislikedexcellent Article Alex!!! a must read
what pairs do you have in mind???
by the way, your attitude on losing is in line with mineIgnored
DislikedI must admit, I'm a little stubborn and don't like loosing, who does. Funny thing is now I accept the loosing part my mind set is now geared to minimising this as much as possible. As for the pairs CHF/USD, GBP/USD, EUR/CAD and for the not so feint of heart the GBP/JPY although the EUR/JPY maybe a little easier to work with. I work with the pairs that have the higher average daily range as they have the momentum to push past the previous high/low. One thing I do with these pairs is once I have hit my 20 pips I then bring my stop up to lock in the 20 pips and let it run. As an example the GBP/JPY will usually put in 200 pips from London open so why not take the ride, its free right.
Regards
AlexIgnored